Skip to main content
Premium Trial:

Request an Annual Quote

Slumping Instrument Sales Drag Thermo Fisher Revenues Down 8 Percent in Q2


Thermo Fisher Scientific said today that revenues for its Analytical Technologies segment, which houses its mass spectrometers, dipped 14 percent for the second quarter, year over year.

For the three months ended June 27, Analytical Technologies receipts totaled $1 billion, down from $1.16 billion in the year-ago period.

The company's total receipts declined 8 percent to $2.48 billion for the quarter from $2.71 billion in the second quarter of 2008. The effects of foreign currency drove down revenues 4 percent, the company said.

In a statement, Marijn Dekkers, president and CEO of Thermo Fisher, said that economic pressures continued to tamp down spending for instruments and equipment while sales of consumables increased during the quarter.

"Although economic conditions remain difficult, we are pleased to report that our operating performance significantly improved over the first quarter of 2009," when the firm reported a 12 percent contraction in revenues year-over year, to $2.26 billion, compared to $2.55 billion.

Net income for the quarter slipped 16 percent to $206.9 million from $246.1 million a year ago. R&D spending was at $58.1 million. As of June 27, Thermo Fisher Scientific had $1.4 billion in cash and cash equivalents, it said.

The company also raised its revenue guidance for 2009 to between $9.8 billion and $10.1 billion due to a more favorable foreign exchange climate and the company's purchase in April of Biolab, a laboratory supply channel in Australia and New Zealand.

During the first quarter, the company provided full-year revenue guidance in the range of $9.6 billion to $9.9 billion.

The Scan

US Booster Eligibility Decision

The US CDC director recommends that people at high risk of developing COVID-19 due to their jobs also be eligible for COVID-19 boosters, in addition to those 65 years old and older or with underlying medical conditions.

Arizona Bill Before Judge

The Arizona Daily Star reports that a judge is weighing whether a new Arizona law restricting abortion due to genetic conditions is a ban or a restriction.

Additional Genes

Wales is rolling out new genetic testing service for cancer patients, according to BBC News.

Science Papers Examine State of Human Genomic Research, Single-Cell Protein Quantification

In Science this week: a number of editorials and policy reports discuss advances in human genomic research, and more.